Georgia launches rural development program

Georgia Materials 28 December 2021 10:54 (UTC +04:00)
Georgia launches rural development program

BAKU, Azerbaijan, Dec. 28

By Maryana Akhmedova – Trend:

The Government of Georgia has launched a pilot program for the Integrated Rural Development in order to promote the development of small and medium-sized businesses in Georgia, Trend reports via the press service of the Georgian Government Administration.

The issue was discussed at the executive government meeting chaired by the Prime Minister of Georgia Irakli Garibashvili.

The program will be implemented in four regions of the country (Kakheti, Racha-Lechkhumi and Kvemo Svaneti, Imereti, and Guria) by the Agency for Rural Development.

The financing includes the full coverage of the interest rate on loans issued by commercial banks operating in Georgia under the program, as well as grant financing in the amount of up to 30 percent of the loan amount.

The total cost of the project submitted by potential beneficiaries from the target regions (the amount of the loan to be paid) should be at least 300,000 Georgian lari (about $97,700) or a maximum of 1 million Georgian lari (about $325,700).

Meanwhile, the Government made several adjustments to the credit guarantee scheme, facilitation of industrial, micro and small enterprises, hotel industry and export promotion within the Enterprise Georgia state program. The priority within the program will be given to business owners with disabilities and young entrepreneurs.


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